OCB Bank aka Orient Bank is one of the largest joint stock commercial banks in Vietnam today. So What is OCB?? Is OCB a scam? Is it reputable? What products and services do you provide?
In this article, Banktop.vn will help you answer the question What is OCB Bank? And guide the easiest OCB OCB loan process.
Summary of Orient Commercial Joint Stock Bank (OCB)
| Vietnamese transaction name | Oriental Commercial Joint Stock Bank |
| English transaction name | Orient Commercial Joint Stock Bank |
| Acronym | OCB |
| Swift Code OCB | ORCOVNVX |
| Type of activity | Joint Stock Company |
| Founded year | June 10, 1996 |
| Headquarters | 45 Le Duan, District 1, HCMC |
| Authorized capital | 8,767 billion (As of the second quarter of 2020) |
| Hotline | 18006678 |
| Website | www.ocb.com.vn |
What is OCB Bank?
OCB Bank's full name is Orient Commercial Joint Stock Bank, international name is Orient Commercial Joint Stock Bank, officially operating in Vietnam since June 10, 1996. After many years of operation, OCB is now one of the fastest growing joint stock commercial banks in Vietnam with more than 200 branches and transaction counters across the country and is rated as one of the top The most prestigious bank in Vietnam Currently.
Orient Bank OCB provides main products and services such as:
- Support installment loan For individual and business customers
- Life insurance
- Payment card products – credit cards
- Buy and sell foreign currency
- Saved money
- Red book mortgage loancars and many other types of assets.
- Commercial finance…
Refer: What is SCB Bank?
Is OCB a State or Private bank?
OCB is a joint stock commercial bank under a private bank. The bank was established by domestic and foreign individuals but without capital from the state bank. However, even though it is a private bank, all activities of OCB are still under the management of the State Bank.
History of Orient Bank (OCB)
- OCB Bank was established and officially went into operation on June 10, 1996.
- In 2007, OCB had a strategic cooperation with BNP Paribas, and at the same time increased its total capital assets to 11,000 billion VND.
- In 2008, OCB implemented the world's best core banking system.
- In 2013, total assets increased to VND 33,000 billion.
- In 2015, under the consultation of DBS Singapore, the Basel II project was launched.
- In 2016, OCB had a growth rate among the top 3 banks, total assets of the bank reached 65,000 billion VND.
- In 2017, total assets increased to nearly VND 85,000 billion, completing the first Basel II project.
- In 2019, OCB was honored to receive the award "Best Enterprise in Asia".
Orientation Bank (OCB) products and services support
OCB supports a variety of products and services with many attractive incentives.
OCB savings deposit products
OCB supports multiple-term savings product packages with attractive interest rates. Customers can choose to receive interest periodically or at the end of the period.
Advantages of savings deposit packages at OCB:
- Commitment to safety and security for customers' savings accounts.
- OCB passbook can be used as collateral when bank mortgage loan.
- When applying for a tourist or study visa, paying for tuition fees abroad, a passbook can be used as a financial proof.
- Customers can make savings transactions at all OCB branches nationwide.
- Flexible automatic form of interest payment.
See more: Which bank is the best and safest?
Loan products at ACB
Packages unsecured loanMortgage loans at OCB are quite diverse, simple documents, low interest rates and quick disbursement.
Customers can refer to loan packages at OCB including:
- COM-B unsecured loan package: unsecured consumer loan package with support limit from 10 to 70 million VND without collateral. Support flexible installment period from 6 to 36 months.
- TOP-UP loan package: This is a loan package that helps customers be proactive in all spending and living with a maximum support limit of VND 200 million for a period of 60 months.
- Mortgage package for real estate buyers: support for home loan products, house milk... with preferential interest rates.
OCB card products
OCB supports two card products, which are debit cards and credit cards credit with many benefits such as:
- Free annual fee
- Many promotions during use such as accumulating points for gift exchange, discount, refund
- Affiliate program when using OCB card to pay bills
Card product list:
| OCB Bank Credit Card | OCB Bank Debit Card |
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Other products
In addition to the above products, OCB also provides many other services such as:
- Life insurance
- Buy and sell foreign currency
- remittances
- International money sending and receiving service
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Is OCB good and reputable?
OCB supports low interest loans
Many banks and financial companies are supporting low-interest fast money lending services, but OCB Bank still has its own strengths:
- Professional and enthusiastic consultants.
- Interest rates on loans from Ho Chi Minh City Oriental Bank are always low and competitive compared to other banks.
- With a network of systems spread throughout the provinces, customers who need to borrow money from OCB will be supported quickly.
- Flexible loan terms, ranging from 6 to 60 months.
- Simple profile, quick disbursement
- Easy and flexible forms of payment suitable to customers' conditions.
- The loan approval limit at OCB is high, up to VND 500 million for OCB unsecured loans.
Reference: What is BIDV?
OCB won many prestigious awards
During its establishment and development, OCB has won many prestigious awards such as:
- In 2018, OCB was recognized as the Most Breakthrough Bank in Vietnam by International Finance Magazines.
- Also in 2018, OCB is in the top 100 gold star brands in Vietnam
- OCB is the first bank in Vietnam to apply the Omni Chanel platform to its operations
- In 2019, OCB was increased its risk rating to Level Three. This rating is given by the world's most prestigious credit rating agency - Moody's Investors Service. In Vietnam today, there are only a few banks rated at this level similar to OCB .
- In June 2019, OCB was once again rated as the most breakthrough bank of the year in Vietnam by IFM.
- In 2020, Vietnam's Best Digital Transformation Bank 2020.
- September 2020 honored in the Fast 500 ranking.
- Top 10 prestigious banks in 2020.
- There are many other prestigious awards.
Oriental Bank (OCB) scam is true?
There is quite a lot of information that OCB cheats customers, but in fact, OCB bank fraud cannot happen because OCB is a reputable bank, operating in accordance with the law and the management of the Bank. government.
The fraudulent OCB bank information actually originates from the fact that some individuals take advantage of the reputation of Oriental Bank to defraud uninformed customers. Customers can find out more at this.
So what is the main reason why customers misunderstand that Oriental Bank (OCB) is a scam?
Not sure about the product yet
This is a common cause, especially for mortgage and unsecured loans. For example, when taking out a mortgage loan, customers are required to mortgage their property. After that, the bank staff will appraise and value the property you take as a pledge, usually from 70% to 80% of the value of the mortgaged property.
For many customers, this is considered a small number, deliberately undervaluing to appropriate property. However, if you look objectively because you have to take precautions when you are unable to repay the debt, and deliberately do not pay the debt. If the valuation is too high compared to the property you bring as a mortgage, the one who suffers here is OCB.
Don't understand how to calculate interest rate at OCB
Why do you say that? Currently, there are two methods of calculating interest rates that are commonly applied by OCB, which are calculating interest rates based on the principal balance and calculating interest rates based on decreasing outstanding balances. According to the usual standards of the industry, loan policy, banking system... the actual applied interest rate is the interest rate on the loan balance gradually decreasing. However, quite a few employees advise customers on how to calculate based on the principal balance, leading to misunderstandings.
Did not read the contract carefully
For many regular borrowers, they will not read the contract and read it very lightly, so it easily leads to when there is a problem in the loan payment process. So it leads to customer dissatisfaction, and there are bad things about the bank
Objects impersonating OCB employees
Currently, there are subjects pretending to be employees of OCB, the police... to defraud customers. These subjects require providing account information, passwords, OTP codes or lending money with high interest rates. Therefore, please pay attention, do not provide any information to anyone who is not an employee of OCB when not at the OCB bank counter.
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OCB's customer care hotline
When there are any problems in the process of using products and services of Orient Bank (OCB), customers only need to call the OCB Hotline number as follows:
- OCB Call Center (Vietnam): 1800 6678 (Free 24/7).
- OCB Call Center (International): (84) 28 7305 6678.
- Head office: 45 Le Duan, District 1, Ho Chi Minh City, Vietnam
- Website: www.ocb.com.vn
OCB bank working hours
OCB working hours are specified in the following time frame:
- Morning working hours start from: 8:00 a.m. - 12:00 p.m.
- Afternoon working hours start from: 13h00 - 17h00.
How to look up OCB Bank transaction office branches
To look up a branch of OCB's transaction office, customers follow the steps below:
Step 1: Visit OCB branch/ATM website at this.
Step 2: Enter necessary information such as Province / District and search purpose (ATM or transaction office) to receive search results.
Conclusion
OCB Bank is one of the The largest bank in Vietnam and provide reputable products and services. Hope this article has provided you with useful information.
Information edited by: banktop.vn
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